EVgo Closes $1.25-Billion Guaranteed Loan Facility from U.S. Department of Energy

EVgo Inc. has announced via a press release the closing of its $1.25-billion guaranteed loan facility from the U.S. Department of Energy Loan Programs Office under its Title 17 Clean Energy Financing Program to support EVgo’s forthcoming efforts to build convenient, reliable public charging infrastructure for electric vehicles with the construction of 7,500 new fast charging stalls nationwide. This buildout will bring EVgo’s total owned and operated network to at least 10,000 fast charging stalls, allowing the company to more than triple its network footprint by 2029.